Identifying and Analyzing Financial Statement Effects of Stock Transactions The stockholders' equity of Gaulin Company at the start of the current year follows:

Common stock, $5 par value, 350,000 shares authorized; 250,000 shares issued and outstanding	$1,250,000
Paid-in capital in excess of par value	600,000
Retained earnings	346,000

During the current year, the following transactions occurred: Jan. 5 Issued 10,000 shares of common stock for $12 cash per share. Jan. 18 Repurchased 4,000 shares of common stock at $15 cash per share. Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $18 cash per share. July 17 Sold 500 shares of the remaining treasury stock for $13 cash per share. Oct. 1 Issued 5,000 shares of 8%, $25 par value preferred stock for $35 cash per share. This is the first issuance of preferred shares from the 50,000 authorized shares. (a) Use the financial statement effects template to indicate the effects of each transaction.

Use negative signs with your answers, when appropriate.